Xtep completes share placement and convertible bond issue

Xtep International Holdings (HKEX: 1368) announced the completion of the placing of existing shares and a top-up subscription of new shares under the general mandate, alongside the completion of its HK$500,000,000 1.5% convertible bond issue due in 2026. The share placement involved 90,909,000 existing shares placed at HK$5.50 each, with a corresponding subscription of 90,909,000 new shares. The company intends to use the net proceeds of approximately HK$985 million from the subscription and bond issue for disclosed purposes. The bonds are expected to be listed on the Vienna Stock Exchange around February 20, 2025. UBS acted as the sole overall coordinator, global coordinator, lead manager, bookrunner and placing agent for the transactions.